StepUP Loan

For many people, a car is a necessity. Particularly in areas where public transport is limited or non-existent, the car gets you to work, the kids to school and enables you to stay engaged with the community.

With 78 per cent of StepUP Loans used to purchase second-hand cars or pay for car repairs, these affordable loans get people on the road and keep them on the road.

The StepUP Loan program, delivered in partnership with NAB, brings low interest loans of between $800 and $3,000 to people on low incomes.

Loans can also be used for other essential items such as whitegoods, furniture and computers, and education, car and medical expenses. Loans are repaid over three years and repayment plans are designed around the customer to ensure they’re affordable.

StepUP is run on a not-for-profit basis and, unlike payday loans, that offer ‘quick cash’ but charge exorbitant rates, StepUP doesn’t attract any fees and has a low interest rate of 5.99% per annum (Comparison rate* 5.99% p.a.). It has won Money Magazine’s Best Socially Responsible Product on three occasions.

The StepUP Loan application process has also been shown to have a positive effect on applicants. Life changing chats, a research paper published in 2015, explored the impact of the financial conversation held between a microfinance worker and an applicant for a StepUP loan. It found that the financial conversation had a positive impact on clients’ financial behaviour, skills and knowledge.

3 September 2013 Media Release

Good Shepherd Microfinance recognised with two MoneySmart Week Awards

20 April 2017 Media Release

Good Money store in Southport provides support for people on low incomes

Queensland’s first Good Money community finance store has opened on Nerang Street at Southport, providing access to the No Interest Loan Scheme, the StepUP low interest loan, as well as dedicated financial counselling support.

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Good Shepherd Microfinance acknowledges Aboriginal and Torres Strait Islander people as the traditional owners of the lands on which we operate and work, and pays respects to their history, their living culture and to Elders past and present.